Millions of pensioners are going to have to tighten their belt in 2013. The cuts will amount to 2.5 percent in average and cannot exceed 7 percent in any case. Indeed, the Dutch National Bank (DNB) amended the regulations governing pension funds’ mandatory reserves, which will increase because of the uncertainty of financial markets. The DNB declared that it wanted to shed light over the coming pension cuts, even as retirement savings are obligatory throughout employees’ active life.
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Millions of pensioners are going to have to tighten their belt in 2013. The cuts will amount to 2.5 percent in average and cannot exceed 7 percent in any case. Indeed, the Dutch National Bank (DNB) amended the regulations governing pension funds’ mandatory reserves, which will increase because of the uncertainty of financial markets. The DNB declared that it wanted to shed light over the coming pension cuts, even as retirement savings are obligatory throughout employees’ active life.
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